Lottery cryptocurrency project Lucky Block (LBLOCK) is ready to host its first controversial prize draw on May 31 for LBLOCK token holders and Platinum Rollers Club NFT owners.
Meanwhile, the project’s native token LBLOCK has recorded a 70% spike in the past week, jumping from $0.0013 to $0.0022.
Recent reports on Lucky Block show that “Lucky Block Crypto” has been one of the most typed crypto-related searches in recent times, according to Google Trends. Earlier this week, LBLOCK was one of the top gainers on the CoinMarketCap crypto gainers list.
As mentioned earlier, both the inaugural $2 million prize pool and the $1 million NFT jackpot giveaway have been scheduled for May 31. To partake in one or both, interested participants need to purchase a raffle ticket or a Lucky Block NFT. Participants can also buy LBLOCK tokens to receive free raffle tickets to the bigger draw.
However, the NFT draw has a much higher barrier to entry considering that a single Platinum Rollers Club NFT currently auctions for 3.75 wBNB (Wrapped BNB), currently worth over $1,200 or 0.16 ETH.
That said, NFT holders also have a larger chance of winning the $1 million payouts considering the limited number of NFT holders (currently under 3,000) compared to LBLOCK holders (over 50,000 wallets).
Key Lucky Block Levels to Watch — May 26
LBLOCK has retraced to the $0.0022 support level following a solid start to the week. The cryptocurrency hit the $0.0028 top on Monday before retracing towards the $0.0022 level.
However, after a rebound and rejection from the $0.0025 top, LBLOCK is retesting the $0.0022 low. The current bearish momentum comes amid a worsening sell-off in the broader market on Thursday.
That said, the $0.0022 support should determine the next course of action for LBLOCK; a rebound to $0.0028 or a bearish continuation to $0.0020.
Meanwhile, my resistance levels are at $0.0025, $0.0028, and $0.0035, and my support levels are at $0.0022, $0.0020, and $0.0015.
Total Market Capitalization: $1.21 trillion
Lucky Block Market Capitalization: $217.4 million
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